Dependence on transhipment limits PSAâ€™s revenues

Shenzhen: PSA’s yield per teu is around 50% of its fellow Southeast Asian terminal operator ICTSI, thanks to its heavy dependence on transhipment cargoes, according to statistics compiled by Hong Kong consultancy GHK.

While transhipment brings double the volumes, it does not bring double the revenues, noted Dr Jonathan Beard, managing director of GHK, who was speaking this morning at the JOC-organised TPM Asia in Shenzhen.

Around a decade ago, John Meredith, the head of Hutchison Port Holdings (HPH), dismissed transhipment cargoes as being about as much economic to a port city as an airport transport lounge. Since then, however, HPH’s flagship Hong Kong terminals have had to rely on transhipment boxes for any form of growth. [17/10/13]